Sterling Greenwoods Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2025. The Board of Directors approved these results at their meeting held on June 6, 2025, following review and recommendation by the Audit Committee.

Financial Performance Overview

The company's operational performance for FY25 showed mixed results across different business segments. Sterling Greenwoods operates primarily in two segments: Real Estate and Resort & Club Membership businesses.

Segment-wise Performance

The Real Estate business generated the entire operational revenue for FY25, contributing ₹144.95 lakhs compared to ₹5.75 lakhs in the previous year. The Resort business did not contribute any revenue during FY25, in contrast to ₹190.65 lakhs in FY24.

Financial Position

As of March 31, 2025, the company's financial position reflected:

Key Financial Ratios

The company's financial ratios indicate areas of concern:

• Debt Equity Ratio: 1.30 (standalone) and 1.31 (consolidated)
• Current Ratio: 0.39 (standalone) and 0.40 (consolidated)
• Interest Service Coverage Ratio: (0.64) indicating difficulty in servicing interest obligations

Auditor's Qualified Opinion

The statutory auditors, Keyur Bavishi & Co., issued a qualified opinion on both standalone and consolidated financial results. The key qualifications include:

• The company uses accounting software with edit log facility that has not been fully implemented in terms of maker-checker control mechanism
• The company has not ascertained impairment of certain resort assets as decided in the Board Meeting dated February 9, 2024, with the impairment amount being unquantifiable

Outstanding Legal and Regulatory Matters

The company continues to deal with several ongoing legal matters, including civil suits filed against Paksh Developers Private Limited and former directors. Additionally, there are pending NCLT proceedings and other court cases. The company has outstanding GST liabilities of ₹16.20 lakhs as of March 31, 2025.

Cash Flow and Liquidity

The company generated positive cash flows from operating activities of ₹73.61 lakhs during FY25, compared to ₹57.24 lakhs in the previous year. Cash and cash equivalents increased significantly to ₹250.18 lakhs from ₹8.22 lakhs in the previous year, primarily due to proceeds from sales of property, plant and equipment amounting to ₹289.72 lakhs.

The financial results indicate Sterling Greenwoods' continued focus on operational efficiency while managing legacy issues and working toward resolving outstanding legal matters.

Sterling Greenwoods Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showing continued losses despite some improvement compared to the previous year. The company's Board of Directors approved the standalone and consolidated financial results on February 13, 2026, following review by the Audit Committee.

Financial Performance Overview

The company reported significant losses for the quarter, though showing some improvement year-over-year:

Nine-Month Performance

For the nine months ended December 31, 2025, Sterling Greenwoods showed improved performance compared to the previous year:

Key Financial Ratios

The company's financial ratios reflect its challenging operational position:

Business Transition and Lease Agreement

Sterling Greenwoods has undergone a significant business model transition following a lease agreement with Pushpadevi Goenka Trust dated April 1, 2024. The company was previously engaged in Real Estate and Resorts & Club Membership segments. Due to this transition, segment-wise disclosures have not been presented as management considers it not practicable at this stage.

The lease rent became due from October 1, 2024, after completion of the moratorium period. However, the company has not charged lease income for the quarters ending June 30, September 30, and December 31, 2025, amounting to ₹45.00 lakh for each quarter, totaling ₹135 lakh.

Ongoing Legal Matters

The company continues to deal with several legal matters that may impact its financial position. These include ongoing NCLT proceedings, civil suits filed against Paksh Developers Private Limited and former directors, and matters related to asset transfers in FY 2009-10. The company has also provided for ₹17.55 lakh as expected credit loss related to misappropriation by a former resort manager.

Auditor's Observations

The statutory auditors, Nahta Jain and Associates, noted that the company should book lease income on a mercantile basis. If lease income had been recognized for all three quarters, the losses would have decreased by ₹45 lakh in each quarter, totaling ₹135 lakh for the nine-month period.